For the average millennial or at least anyone that pays attention to the business world, the term “cryptocurrency” would not seem like such a strange word. If that is, then the terms Bitcoin, Ethereum or at least Blockchain should ring a bell. One might wonder, why are these terms suddenly so prevalent, especially cryptocurrency news? Computing is getting rather pervasive and the society is leaning towards digital services. The finance world too isn’t spared as the disruption of technology into this sector has fostered the birth and development of Fintech organizations.
These Fintech organizations look to digitize payments and transactions, offering the same services that are currently in existence but in a better, efficient and more effective way.
Blockchain is the network upon which most of these cryptocurrencies operate on. The history of blockchain and bitcoin, in particular, does not have a definite story. In 2009, an individual or group of individuals known to be “Satoshi Nakomoto” developed and published the technology to allow people make digital payments between themselves anonymously without having an external party to verify or authorize the transfer of the currency being exchanged.
Although technologies like this might seem rather complex, understanding how Blockchain works is quite easy, given that one has a basic idea of how networks work. Blockchain is simply a database shared between several users, containing confirmed and secured entries. It is a network, where each entry has a connection to its previous entry.
This technology affords a very secure model whereby every record in the database cannot be tampered with. Apart from the stellar security that this network offers, the transparency and speed at which the network operates give it an edge over the conventional way of conducting transactions.
In simple terms, cryptocurrencies are just monies in digital form, transacted via digital means and over a digital network. The transfer of these currencies is utilized with cryptography and the aforementioned blockchain network. Up until the 2010s, cryptocurrencies were not really known until Bitcoin made its breakout and this gave rise to the birth of new cryptocurrencies.
Cryptocurrencies have had their fair share of bullish and bearish trends, going to show how unstable they can be. The latest cryptocurrency news reports lots of people predicting prices for various cryptocurrencies in the years to come but no-one can say for sure.
Blockchain, on the other hand, is making its way into pervasive computing, especially IoT, giving way for the development of new solutions that embrace data security and transparency.
Although the Winklevoss Bitcoin Trust was initially listed on Nasdaq, Winklevoss brothers have decided to change it to BATS Global Markets.
The bill empowers bitcoin companies in North Carolina to get money transmitter licenses.
Hillary Clinton refers to the blockchain as a technology that will lead the world in the next generation of technology revolutions.
According to estimates of multiple experts, bitcoin will continue to grow in July after the British makes their decision on the presence in the European Union.
The partnership with BitPay allows Worldcore to add bitcoin as payment option for account top-up.
Britain has made its decision in favor of leaving the EU, which stimulated another increase of bitcoin price.
The San Francisco-based financial technology startup has announced partnerships with seven new banks to provide its blockchain platform for overseas payments.
With the initiative Coinbase intends to ease the process of digital currency exchange.
Bitcoin price has reached its 2-year high while investors are increasing their contribution in blockchain and bitcoin development.
The members of the Ethereum Foundation have launched a white hat attack on the DAO network aiming to recover the funds stolen by an anonymous hacker.
The cooperation aimed at creation of next generation settlement service for gold market will be based on Bankchain, itBit’s revolutionary product.
Craig Wright has altogether filed more than 50 patent applications in Britain through Antigua-registered EITC Holdings Ltd for this year.
Dor Konforty, CEO at Synereo, explained that his company had envisaged such situation and took necessary measures.
Sweden is planning to put real-estate transactions on the blockchain together with ChromaWay, Kairos Future and Telia.
The decentralized autonomous organization (DAO), built around the virtual currency, has suffered a huge hacker attack, losing millions of Ether.